Amritsar-Kolkata Industrial Corridor Takes Stride With Key Agreements In Uttar Pradesh
Updated: Nov 09, 2024 04:17:32pm
Amritsar-Kolkata Industrial Corridor Takes Stride With Key Agreements In Uttar Pradesh
Lucknow, Nov 9 (KNN) The Amritsar-Kolkata Industrial Corridor (AKIC) initiative marked a crucial milestone today with the formalisation of two pivotal agreements in Uttar Pradesh.
The State Support Agreement (SSA) and Shareholder Agreement (SHA) were signed between the National Industrial Corridor Development Corporation (NICDC), the Government of Uttar Pradesh, and the Uttar Pradesh State Industrial Development Authority (UPSIDA).
The agreements lay the foundation for developing world-class Integrated Manufacturing Clusters (IMC) in Agra and Prayagraj, reinforcing India's commitment to industrial growth and self-reliance.
The Agra IMC, strategically positioned across 1,058 acres along the city's Inner Ring Road, is poised to leverage its exceptional connectivity to major economic centres, including Delhi NCR and the Agra-Lucknow Expressway.
With projected investments exceeding Rs 3,400 crore, the cluster is expected to emerge as a significant industrial hub, attracting diverse industries and fostering regional economic growth.
In Prayagraj, the 352-acre IMC will focus on specialised sectors including e-mobility, food processing, leather, garments, cycle manufacturing, and packaging.
The project, with anticipated investments of Rs 1,600 crore, aims to catalyse economic expansion and industrial diversification in the region, creating substantial employment opportunities and enhancing Uttar Pradesh's industrial competitiveness.
The formal agreements were executed by NICDC CEO & MD Shri Rajat Kumar Saini and UPSIDA CEO Shri Mayur Maheshwari, establishing the operational framework for these strategic industrial hubs.
These developments align with the broader Make in India initiative, positioning the state as an attractive destination for both domestic and international investments while strengthening India's standing as a global manufacturing hub.
(KNN Bureau)